Since mid-June, the Crédit Mutuel Alliance Fédérale has offered a zero-interest loan for the purchase of a mechanical or electric bicycle, new or used. These loans can vary between 3 and 48 months, without any administrative fees whatever the duration.
In France, the average price of an electric bike has tickled 2000 euros for several years now. A considerable sum that not everyone can afford to spend at once, despite the purchase aids. To remedy this problem, the Crédit Mutuel Alliance Fédérale group has decided to set up a zero-rate loan.
The news was officially announced several weeks ago, before this famous zero-interest loan became available in mid-June. The idea is simple: to be able to pay for your mechanical or electric bike, whether new or used, through pre-established monthly payments over a period of 3 to 48 months.
The icing on the cake: the French company does not charge you any administration fees. It should be noted that this solution is financed by the group’s societal dividend.
Which bikes are eligible?
Many categories of bicycles are eligible for this offer: mechanical, electric, city, mountain bike, racing, gravel, cargo and other tricycles. On the other hand, two-wheelers classified in the “moped” category are excluded. Implicitly, the Crédit Mutuel Alliance Fédérale therefore excludes speedbikes.
Who can access the zero rate loan?
Anyone can take advantage of this zero-interest loan, whether individuals or professionals. The offer is offered by the funds of the 14 Crédit Mutuel Alliance Fédérale federations, as well as the CIC branches (Crédit Mutuel is a shareholder). For families, this loan can be used to acquire up to 4 bicycles per household.
Up to what amounts can the loan go up?
The zero-rate loan offered by Crédit Mutuel is limited to certain purchase prices: up to 6,000 euros for individuals, against 10,000 euros for professionals. What remains are very substantial sums, which cover a very large majority of the market.
What is the amount of the monthly payments?
The monthly payments vary according to the purchase price of the new or used bike. Crédit Mutuel presents three examples, each hinged around an electric bicycle:
- VAE of 1,000 euros: €27.78/month, over a period of 36 months;
- VAE of 2,500 euros: €69.45/month, over a period of 36 months;
- VAE of 4,000 euros: €111.12/month, over a period of 36 months.
Obviously, the monthly payments can vary according to the price of your bike and the number of monthly payments recorded with Crédit Mutuel. Note that Death, Total and Irreversible Loss of Autonomy insurance is optional. But if you are interested, it would only cost you 54.11 euros over the duration of the loan, in the second example cited.
CssTricks has written a complete file on electric bike insurance, with the little pitfalls to avoid.
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